Monday, December 3 2012 13:44
Loan portfolio of Armenian commercial banks up 4.2% to $2.9 billion for May 2011
ArmInfo. Armenian commercial banks increased lending 0.3% for October 2012 to 1.526 trillion drams ($3.764 billion) as of November, with a 26.5% growth versus Nov 2011. Exclusive of extended and overdue loans, total provision of crediting amounted to 1.488 trillion drams or $3.669 billion, with a 0,8% growth for October and a 27% versus Nov 2011.
The preliminary data of the Central Bank of Armenia provided to ArmInfo by the National Statistical Service of Armenia say that the share of loans in terms of the national currency (exclusive of extended and overdue loans) was 35.7% or 531 billion drams (up 1.7% for October and 14.3% versus the same period of 2011). Foreign exchange loans totaled 64.3% or 956.7 billion drams (up 0.1% for October and 35.4% versus the same period of 2011).
In the structure of loans provided by commercial banks as of Nov 1 2012 the share of extended loans was 2% or 26.9 billion drams ($66.4 mln). The share of overdue loans was 0.8% or 11.9 billion drams ($29.3 mln). Extended loans fell 11.3% for October, while overdue loans fell 4.8%. The annual growth of extended and overdue loans was 14/5% and 7.5%, respectively.
In the structure of extended loans, the share of short-term loans was still the largest - 79.8% or 21.5 billion drams. The short-term loans totaled 98.5% or 11.7 bln drams.
The interest rates for the loans in terms of the national dram for October 2012 were increased 0.76 points with a 0.72 points decline versus the same period of 2011 to 17.17%.
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